Synthesis of accurate, personalize photoplethysmogram (PPG) signal is important to interpret, analyze and predict cardiovascular disease progression. Generative models like Generative Adversarial Networks (GANs) can be used for signal synthesis, however, they are difficult to map to the underlying pathophysiological conditions. Hence, we propose a PPG synthesis strategy that has been designed using a cardiovascular system, modeled through the hemodynamic principle. The modeled architecture is composed of a two-chambered heart along with the systemic-pulmonic blood circulation and a baroreflex auto-regulation mechanism to control the arterial blood pressure. The comprehensive PPG signal is synthesized from the cardiac pressure-flow dynamics. In order to tune the modeled cardiac parameters with respect to a measured PPG data, a novel feature extraction strategy has been employed along with the particle swarm optimization heuristics. Our results demonstrate that the synthesized PPG is accurately followed the morphological changes of the ground truth (GT) signal with an RMSE of 0.003 occurring due to the Coronary Artery Disease (CAD) which is caused by an obstruction in the artery.